Overview

* Ellington Financial ( EFC ) Q3 adjusted EPS of $0.53 beats analyst expectations

* Adjusted distributable earnings for Q3 beat estimates, driven by strong securitization activity

* Company increased long-term financing with $400 mln senior unsecured notes

Outlook

* Company plans to increase proportion of unsecured borrowings over time

* Ellington Financial ( EFC ) aims to maintain conservative leverage and strong dividend coverage

* Company working on inaugural securitization of residential transition loans

Result Drivers

* SECURITIZATION ACTIVITY - Strong securitization activity contributed to robust quarterly results, according to CEO Laurence Penn

* LONG-TERM FINANCING - Co significantly increased long-term, non-mark-to-market financing through securitizations and senior unsecured notes

* LONGBRIDGE GROWTH - Longbridge segment saw a 37% increase in portfolio driven by record reverse mortgage loan originations

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 Beat $0.53 $0.44 (6

Adjusted Analysts

EPS )

Q3 EPS $0.29

Q3 Beat $54.20 $42.50

Adjusted mln mln (5

Net Analysts

Income )

Q3 Net $29.50

Income mln

Q3 Net 3.65%

Interest

Margin

Press Release:

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)